From 2013 to 2022, the sector observed significant fluctuations with notable peaks in 2017 (45.21% YoY) and 2019 (9.21% YoY). Following a steep decline in 2020 (-22.18% YoY), the sector showed recovery with steady increases, culminating in a 7.87% rise in 2023. The Compound Annual Growth Rate (CAGR) over the last 5 years indicates a modest average growth of 2.17%.
Future trends to watch include the forecasted growth of 11.33% from 2023 to 2028. The steady rise in investments signals positive market sentiment, backed by increased demand for sustainable and resilient building materials.
